Rooftop in London goes on sale for 450,000

Posted: 22/12/2015

A small patch of roof in London is up for sale at a staggering £450,000. This tiny exclusive terrace on the third floor has been named an “outstanding opportunity” for potential buyers. The space is currently undeveloped but if it was sold the buyer would also receive planning permission to build a 53 square metre, one-bedroom flat.

The roof, located on Bermondsey Street is available with a long leasehold and will come with stair and lift access. A 45,000 deposit would be required to secure the terrace, which is a substantial amount for a piece of roof. It doesn’t stop there however as mortgage payments would equate to £2,172 over the course of twenty five years.

The potential flat is located in one of “London’s coolest quarter” and is situated close to prestigious bars and restaurants, so much so it has been featured in Vogue’s annual Secret Address Book.

This isn’t the first time an unlikely space for potential development has shocked with its selling price though. Last month a shed in Peckham sold for £1m at auction and an abandoned outbuilding in East Dulwich sold for £440,000.

Research compiled at the beginning of this month showed that people living in London are shelling out three times the price of an average property for their home. 

Aislinn Devlin, Pali Ltd

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(0) Comments property, roof top, developments, property market, sale, house prices

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